HFBS Fuels Investor’s Vision with £175K Bridging Loan for HMO Conversion
HFBS (Holme Finance Bridging Solutions) has once again demonstrated its commitment to supporting savvy investors in the property market. The specialist lender approved a substantial bridging loan of £174,695 for a returning client, aimed at purchasing and transforming a £170,000 property into a high-yielding House of Multiple Occupation (HMO).
This isn’t the first time HFBS has backed this particular investor. With a history of successfully identifying and renovating properties for maximum rental returns, the client has proven their mettle in completing such projects within tight deadlines. The property in question is expected to undergo extensive renovations, post-purchase, to convert it into an HMO, a venture that promises significant increases in rental income. Upon completion, the property’s value is anticipated to soar to an estimated £300,000.
Dan Yendall-Collings, Senior Underwriter comments: “HFBS’s decision to fund this project wasn’t solely based on the potential of the new acquisition. The client also offered two additional Buy-To-Let (BTL) properties as collateral, ensuring a secure foundation for the loan. This strategic move allowed us to comfortably extend the full amount required for the purchase, despite our policy against 100% funding based on a single property.”
The loan, offered at a competitive interest rate of 1.15% over a 12-month term underscores HFBS’s agility and customer-centric approach in the bridging loan market. Although the completion of the transaction took a couple of weeks, largely due to the wait for the seller to confirm a completion date, HFBS was ready to proceed merely four days after the initial application.
This rapid turnaround time is a testament to HFBS’s efficiency, and the strong relationship and trust built with repeat clients. The investor plans to refinance the property once the renovations are complete and the property is fully tenanted on an HMO basis, leveraging the increased value and rental income to secure long-term financing.
This transaction highlights the vibrant dynamics of the UK’s property investment sector and the critical role of specialised lenders like HFBS in facilitating growth and innovation. It also reflects the growing trend towards maximising rental yields through HMO conversions, a strategy that, while demanding in terms of management and compliance, offers substantial returns in the right markets.
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 40 years with complete authority on their lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
Holme Finance Bridging Solutions Celebrates Dan Yendall-Collings’ 22-Year Journey
In the dynamic world of finance, the ability to adapt and thrive through changes is a rare quality that Dan Yendall-Collings, Senior Underwriter, has exemplified throughout his impressive 22-year tenure at Holme Finance Bridging Solutions (HFBS).
Fresh from university and armed with ambition, Dan applied for a position at HFBS, intrigued by a vacancy that promised growth and learning opportunities. Little did he know it would be the start of a two-decade-long journey that would see him evolve from a promising graduate to a cornerstone of the company.
Initially offered the role of a mortgage advisor, Dan was keen to hit the ground running. However, understanding the importance of expertise in advising clients, he first had to complete his professional qualifications. Displaying his signature commitment and zeal, Dan passed all required certifications with flying colours, setting the tone for his growth within the company.
In 2010 the company ceased offering mortgages moving solely into the bridging loan sector. This transition marked a new chapter not only for the company but for Dan who demonstrated adaptability and commitment to growth, transitioning seamlessly into the role of underwriter.
This position allowed Dan to lever his comprehensive understanding of business management principles and apply them effectively within the bridging finance sector. His ability to analyse risk, understand market dynamics, and craft bespoke financing solutions has been instrumental in the success and resilience of Holme Finance Bridging Solutions.
Ian Broadbent, Managing Director comments: “As we celebrate this remarkable 22-year journey, we not only applaud his individual achievements but also the indelible mark he has left on Holme Finance Bridging Solutions. His journey from a fresh graduate to a leading light in the company underscores the values we hold dear—growth, learning, and the relentless pursuit of excellence.”
Reflecting on his 22-year journey, Dan shared, “After 22 years, I can confidently say being in a position to help people achieve their goals, building relationships, and not to mention the great team here, who are like family, was a great decision. It’s unbelievable it’s been 22 years.”
Here’s to celebrating 22 remarkable years and to many more years of success, innovation, and shared achievements.
Second Charge Bridging Facility in 3 days
£24,000 second charge bridging facility within a mere three days of the initial customer enquiry.
A customer in need of funds for business purposes contacted their broker highlighting issues encountered with a previous second charge lender. There was an urgent requirement to obtain the funds due to various legal matters and complications with the previous lender.
Quick to recognise the urgency of the situation, the broker immediately engaged with HFBS. In a decisive move, HFBS agreed to provide the second charge loan without the need for consent from the first charge lender. Relying on the property valuation conducted by the previous lender, HFBS efficiently packaged the deal on the same day.
As time was of the essence, HFBS received enquiry in the afternoon of day one, approved the loan on day two, on the morning of the day three all necessary parties convened to finalise the application.
The transaction featured a net bridging loan of £24,000 against a property valuation of £220,000, resulting in a total loan to value (LTV) of 60% when including the first charge.
Dan Yendall-Collings, Senior Underwriter at Holme Finance Bridging Solutions, added, “Our ability to solve problems quickly is a testament to our commitment. Trust, adaptability, and rapid decision-making are crucial, and we’re proud to have demonstrated these qualities in this recent deal.”
HFBS Approves Rapid Funding for Property Enhancement
In a remarkable display of efficiency and client-focused service, HFBS has approved a swift funding package totalling £6,495.
This deal, unique in its expedited processing and favourable terms, reflects HFBS’s commitment to supporting property development and sales. The client, an experienced landlord, approached HFBS through a broker. Recognising the client’s specific needs and the broker’s existing relationship, HFBS uniquely decided not to apply an additional fee on this case.
The client’s immediate requirement was £5,000 to refurbish a long-owned and recently vacated Buy-To-Let (BTL) property. The tenants had left the property in a less-than-ideal state, necessitating cosmetic improvements to enhance its marketability for a quick sale. The client planned to undertake these renovations herself, aiming to list the property in the upcoming spring market.
What makes this deal particularly noteworthy is the rapid pace of its completion. Within a mere four days, HFBS progressed the loan to completion, an impressive feat considering the standard duration of such processes. The decision to waive the need for a property valuation expedited the process, a move justified by the existing mortgage of £60,000 and the property’s estimated value exceeding £200,000.
The financial structure of the deal was strategically advantageous. The client received a net loan of £5,000, with a lender fee of £200 and legal fees amounting to £1,295, bringing the gross loan to £6,495. The offered rate was 2% per month, a competitive figure in the bridging loan market.
The client was confident that this investment in the property would not only enhance its value significantly but also make it more attractive to potential buyers, thereby facilitating a quicker sale.
Dan Yendall-Collings, Senior Underwriter at HFBS says: “This successful deal is a testament to our agility and customer-centric approach. By understanding the client’s unique situation and the potential of the property, we were happy to provide tailored financial solutions that aligned with our client’s objectives. This case serves as an excellent example of how targeted funding no matter how small can effectively support property enhancement and sales, benefiting both the borrower and the broader real estate market.”
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 40 years with complete authority on their lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
Fresh Chapter of Success for HFBS as it Introduces New Dream Team Member
We are thrilled to usher in 2024 at Holme Finance Bridging Solutions (HFBS), especially after celebrating a remarkable 2023. Last year was nothing short of extraordinary, with our completed volumes nearing a record-breaking high. This achievement reflects not just the vast expertise of our staff, who collectively bring over 170 years of experience to the table, but also the exceptional dedication of our introducers. A heartfelt thank you to each one of you for your invaluable contributions.
In light of our continued growth and unwavering commitment to delivering top-notch service to our introducer network, we are excited to announce a fresh face joining our underwriting team: Alasdair Broadbent. Alasdair, an accomplished individual with a first-class degree in Engineering, comes to us following a significant tenure at British Steel. While his journey to the financial sector may seem unconventional, Alasdair’s diverse skill set is a perfect match for our innovative approach. We are confident that his unique perspective and experience will be instrumental in further enhancing our team’s capabilities.
This addition, coupled with our intrinsic drive for excellence, positions us for even greater heights in 2024. Your support has been a cornerstone of our success, and we look forward to achieving new milestones together in the coming year. Here’s to a prosperous 2024!
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 40 years with complete authority on their lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
HFBS Approves Conversion Project Bridging Loan
HFBS approves new bridging loan deal to rescue semi-commercial property conversion project without full valuation saves developer’s project from auction.
The client, who had a semi-commercial property with a current estimated value of approximately £250,000, faced challenges with their development project. They had originally planned to convert the property into two self-contained flats but had experienced cost overruns.
To get the project back on track, they needed an additional £25,000 to complete the work. HFBS, recognising the relatively small loan amount needed and the unique circumstances of the case, made the decision to proceed without requiring a full property valuation. This expedited the process and allowed the HFBS to offer a competitive interest rate of 1.95%.
HFBS was able to release the necessary funds in just five working days, providing the client with the financial support required to complete the project successfully. Dan Yendall-Collins, Senior Underwriter at Holme Finance Bridging Solutions “The broker who submitted this case expressed immense satisfaction with the outcome, as this bridging loan has placed their client in a position to complete the development as originally planned. This means they can now realise the true value of the property by selling the two self-contained flats on individual leases upon project completion, rather than having to resort to auctioning a half-complete single freehold unit.
HFBS’s swift and tailored approach in approving this bridging loan demonstrates their commitment to supporting brokers in unique situations and enabling them to achieve their property development goals. The success of this deal underscores the importance of flexible and innovative financial solutions in the ever-changing real estate market.
HFBS continues to provide creative financial solutions for property developers and investors, reinforcing their reputation as a trusted partner in the industry.
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 40 years with complete authority on their lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
Access Bridging Funding Regardless of Property Value.
Holme Finance Bridging Solutions is a leading provider of bridging advances for clients looking to secure short-term property financing. One of the unique features of our service is the fact that we offer bridging funds with no minimum valuation, which means clients can access funding regardless of the value of their property.
However, it’s important to note that Holme Finance Bridging Solutions may restrict the loan-to-value (LTV) ratio on lower value properties. This means that clients may be required to put down a higher deposit or provide additional security to secure the funding they need.
To keep our clients’ costs to a minimum, Holme Finance Bridging Solutions will consider a variety of valuation methods, including existing valuations, estate agent sales particulars, automated valuations, or our own visual inspection. This allows us to provide clients with a more efficient and cost-effective service, without compromising on the quality of funding.
Existing valuations are typically provided by professional surveyors or valuers and can provide an accurate assessment of the value of a property. Estate agent sales particulars can also provide a good indication of a property’s value, although they are typically less reliable than professional valuations.
Automated valuations, on the other hand, use sophisticated algorithms to calculate the value of a property based on a range of factors, including its location, size, and condition. While they can provide a quick and easy way to value a property, they are not always accurate and may not take into account specific features or issues with a property.
Finally, we may also conduct our own visual inspection of a property to assess its value. This can involve a site visit by a member of our expert team who will conduct a visual inspection of the property and take into account factors such as its location, condition, and any other relevant features.
Ian Broadbent, Managing Director at Holme Finance Bridging Solutions says: “We make it our business to provide a flexible and efficient service that is tailored to meet the individual needs of our clients. By offering bridging funding with no minimum valuation and considering a range of valuation methods, we are able to provide clients with a more cost-effective and convenient solution to their short-term financing needs.”
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 40 years with complete authority on their lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
Guaranteed Approval for Quick Bridging Loans: HFBS Has You Covered
In today’s fast-paced world, time is of the essence, especially when it comes to financial matters. If you’re in need of immediate funds for a real estate purchase or development project, a quick bridging loan can be an effective solution.
A quick bridging loan from HFBS are designed to provide fast access to funds, often within a matter of days, to help you meet your financial obligations and take advantage of time-sensitive opportunities.
One of the main advantages of a quick bridging loan is the speed at which you can obtain funds. Traditional lenders such as banks may take several weeks to approve a loan, but we offer a much faster turnaround time. This means you can quickly take advantage of an opportunity or resolve an urgent financial need without having to wait for a lengthy approval process.
Another advantage of a quick bridging loan is the flexibility. Unlike traditional loans, bridging loans can be customised to fit specific financial needs. They are typically secured against a property or asset currently owned or being purchased, which means that even if you have a poor credit history, we may still be able to approve you for a bridging loan.
No need to look any further, for a quick bridging loan HFBS are the go-to funder with the experience and hand-holding process to make it happen for you.
HFBS offer one the LOWEST second mortgage rates in the bridging finance market starting at just 0.95% month with advances from just £5,000. HFBS Bridging Solutions have been advancing short-term funds, via a limited panel of intermediaries, for over 40 years with complete authority on their lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates. HFBS really mean business.
Simpler, quicker, cheaper.
Exit Plans are Really Important to HFBS
Exit plans are really important to us here at Holme Finance Bridging Solutions (HFBS), which is why we will never push your client to borrow more than they need.
That’s called flexibility and we can do that because we have complete authority on our lending. No solicitor involvement, no minimum valuation, and entirely privately funded, no bank mandates, no fixed rules, no default rates
We are still the number one lender for a quick response. We pride ourselves on being very different, filling a niche in the market to complement your existing providers of short-term finance.
Amongst our genuine USP’s we continue to offer; no limit on bad credit, small loans, no age limits, no first mortgage consent required and no solicitors in most cases. And one major difference, if it is in a clients interests we will happily consider taking out an existing bridging loan. As we like to say, with HFBS everything is simpler, quicker, cheaper
However, it is also important to remember that this level of service will only come from an experienced bridging lender who can actually deliver. We have been advancing short-term funds, via a limited panel of intermediaries for over 40 years with complete authority on our lending – think it’s fair to say we have the experience.
Talk to us 01724 86 55 77 or email us
FIRST WEEK BACK SUCCESS
The first week back for HFBS results in success.
HFBS returned to work at 9 AM on 11th May, by 4PM on the 20th May 2020 the team had issued full contractual terms on 11 cases and completed/funds to the client on three of those cases as follows :
“We advanced £42,495 at 1.35% mth over 12 months with interest to be ‘rolled up’ secured by first legal mortgage over two Buy to Let properties valued at £50,000 each. The valuation was established by a combination of original purchase prices/AVM and our own inspection.”
“The client had an urgent need to redeem an existing bridging loan to buy more time to secure a sale. The security was a residential BTL estimated at £250,000 in current condition ( in need of moderate refurbishment ) . Valuation was established by our own inspection of the property / comparable evidence. We advanced £100,855 at 1.2% month over 12 months with interest ‘rolled up’ and secured by first legal mortgage.”
“The client had an urgent need to redeem an existing bridging loan to buy more time to secure a sale. The security is a car sales forecourt with on site living accommodation valued for a previous proposed lender in January 2019 . We advanced £32,719 at 1.75% month over 12 months with interest ‘rolled up’ secured as a second legal mortgage behind the clients bank mortgage of £187,000. Valuation was established by using the old valuation.”
Ian Broadbent, direct at HFBS says: “When we got back to business on the 11th we really had no idea what would happen. However it’s clear, the bridging business is back in business and we’re now anticipating funding a further deal before we take a well deserved long weekend off.”
If you are looking for the application of common sense and a lender that shares your clients urgency HFBS are here for you. Just call 01724 865577 or email here.
